Despite a decline in revenue, Kraft Heinz is on track

Although food company Kraft Heinz saw its revenue decline in the second quarter, the company still reports better-than-expected results. The multinational is increasing its investments and raising its outlook.

“Solid quarter”

Kraft Heinz saw revenue decline by 1.4% in the second quarter to $8.9 billion (about 5.42 billion euros), the result of a 2.6% drop in volume that could not be offset by a 1.3% increase in prices. Adjusted operating income plummeted by 18.4% to $1.0 billion due to higher marketing, production, and logistics costs.